VALLEY FORGE, PA — UGI International, LLC has announced the completion of the sale of its LPG distribution business in Italy, known as UniverGas, to Goldengas S.p.A., SCG Gas S.p.A. (part of Socogas Group), and Beyfin S.p.A. — all prominent players in Italy’s energy sector.
The move aligns with UGI International’s ongoing efforts to optimize its portfolio by focusing on core markets where it can achieve stronger operational and financial performance. The divestiture will allow the company to reallocate resources and sharpen its strategic priorities.
Proceeds from the sale will primarily be used to reduce debt at UGI Corporation, supporting its broader capital allocation strategy aimed at strengthening the balance sheet and enhancing long-term shareholder value.
Julie Fazio, President of UGI International, emphasized the strategic rationale behind the transaction. “We are strategically reshaping our portfolio to focus on markets where we have built significant market presence and operational expertise,” she said. “By exiting this market, which has historically represented less than 5% of UGI International’s EBIT, we can concentrate our resources and investments to deliver the greatest value to our customers and stakeholders while maintaining our competitive position.”
This divestiture marks a significant step in UGI International’s strategy to simplify its business structure and invest in areas that promise stronger returns and growth potential.
For the latest news on everything happening in Chester County and the surrounding area, be sure to follow MyChesCo on Google News and MSN.